ECB Extends Remote Working to End of Year as Virus Picks Up

imageStock Markets1 hour ago (Aug 03, 2020 08:54AM ET)

(C) Bloomberg. The European Central Bank (ECB) headquarters stands near residential apartment blocks in Frankfurt, Germany, on Wednesday, April 29, 2020. The ECB’s response to the coronavirus has calmed markets while setting it on a path that could test its commitment to the mission to keep prices stable.

(Bloomberg) —

European Central Bank staff have been told to work remotely until at least the end of year, according to people familiar with the matter, three months longer than previously planned as the coronavirus pandemic shows no sign of abating.

Employees were told that teleworking will stay the default option, the people said, asking not to be named as internal communications are confidential.

A spokesman for the central bank declined to comment on the timeline, but said that “having had positive experiences with remote working, the ECB will err on the cautious side when deciding on a return to office-based working. The current regime is that those who have good reasons to work from the office, can do so.”

Attempts by companies across the globe to judge when they can bring back workers are being frustrated by an upturn in new coronavirus cases that threatens to further damage the economy. The pandemic is now adding a million infections every four days, and governments in some parts of the world have reimposed lockdowns.

Multiple members of the 19-nation euro zone have also seen an increase, including Germany, the home of the Frankfurt-based ECB.

The central bank has more than 3,500 employees from across Europe, with more than half aged between 31 and 47.

(C)2020 Bloomberg L.P.

ECB Extends Remote Working to End of Year as Virus Picks Up

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